HP has announced that it is in the process to acquire HyperX, the gaming division of Kingston Technology company. HyperX is a known brand for gaming accessories like headsets, keyboards, mice, mouse pads, USB microphones, and more.
HP is paying $425 million to buy HyperX. “The acquisition is expected to be accretive on a non-GAAP basis to HP in the first full year following closing. The transaction is expected to close in calendar Q2 2021, pending regulatory review and other customary closing conditions,” said HP in a media release.
On the other hand, Kingston will retain the DRAM, flash, and SSD products for gamers and enthusiasts.
“HyperX is a leader in peripherals whose technology is trusted by gamers around the world and we’re thrilled to welcome their outstanding team to the HP family. We continue to advance our leadership in Personal Systems by modernizing compute experiences and expanding into valuable adjacencies. We see significant opportunities in the large and growing peripherals market, and the addition of HyperX to our portfolio will drive new sources of innovation and growth for our business,” said said Enrique Lores, President and CEO, HP.
HP claims that PC gaming continues to be one of the most popular forms of video gaming, with the PC hardware industry anticipated to be worth $70 billion by 2023. The global peripherals market is expected to grow to $12.2 billion by 2024, with gaming peripherals representing a disproportionate share of this growth.